Planning at Lowe’s

Lowe’s is aiming to open 11 new DIY stores in the third quarter of 2009 at an anticipated cost of around US $ 11 mio. In spite of the increase in outlets, the management is expecting a drop in sales of between 2 and 5 per cent (on a like-for-like basis: 6 to 10 per cent) for this quarter. 62 to 66 new stores are envisaged for the year as a whole. With regard to sales, a decline of around 3 per cent is expected (like-for-like: 7 to 9 per cent).